Due to the Covid-19 pandemic, on March 29 this year. The Ministry of Finance published a regulation extending certain deadlines for the preparation of stand-alone reports for 2020. (Journal of Laws 2021, item 572).

Surprisingly, it turned out that the extension of deadlines does not apply to consolidated reports, i.e. reports that should be prepared by parent companies of large capital groups on the basis of reports of subsidiaries.

As a result, according to the introduced regulations, the consolidated report should be prepared by March 31, while its components should be prepared only by the end of June 2021.

Considering the fact that last year the deadlines for all reports, including consolidated ones, were extended, this year one could assume that it will be the same. Entrepreneurs found out that this time it would be different at the last minute, a day before the deadline.

Most companies have not yet prepared their financial statements due to the extended deadlines. Preparing a consolidated report without confirming the data from related entities involves a high risk of preparing an inaccurate report and the regulations should not oblige to do so.


Author: Magdalena Świątkiewicz – Tax consultant